Goldman To Buy Back $25M In Mont. ARS Investments

Law360, New York (June 28, 2010, 6:58 PM EDT) -- Goldman Sachs Group Inc. will buy back more than $25 million in auction rate securities from investors in Montana and pay the state $75,000 in civil fines as part of a national settlement, the state's securities and insurance commissioner has announced.

The fine, announced Friday, is the state's share of Goldman's $22.5 million civil penalty made public about two years ago that resolved a multistate investigation into investment firms' sales of ARS, which were billed as liquid investments before the ARS market collapsed in February 2008....
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